Growing Security Concerns to Drive Global Market for Fingerprint Biometrics, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Fingerprint Biometrics markets. Global market for Fingerprint Biometrics is projected to reach US$10 billion by the year 2018, primarily driven by the encouraging use of the technology in physical access control applications.

Fingerprint Biometrics: A Global Strategic Business Report

San Jose, California (PRWEB)February 05, 2013

Follow us on LinkedIn – The ever present threat of security concerns like terrorist attacks, campus violence, random shootouts, burglary and physical assaults, will continue to offer a steady flow of opportunities for the conventional AFIS fingerprint biometrics by way of government compulsions in investing to beefing up security infrastructure. Non-AFIS Fingerprint Biometrics in m-commerce applications is forecast to drive strong gains in the market.

Advancements in technology, increasing accuracy and performance levels, reducing complexity and declining prices, are key factors responsible for expanding the application possibilities of fingerprint identification technologies beyond the government sector. Fingerprint identification systems are already being deployed in enterprises, particularly in large organizations with huge number of employees and continuous flow of visitors. Companies engaged in processing of sensitive information such as banking and financial institutions and research laboratories are also using fingerprint identification recognition extensively for monitoring visitor and employee movements. Non-AFIS fingerprint scanners are especially finding increased adoption in the business segment. Government regulations mandating stringent security measures for key commercial centers such as office buildings, malls, hospitality and healthcare facilities will also add to the market demand.

Silicon-based fingerprint sensors, in this regard, are poised to drive gains in the Non-AFIS fingerprint biometrics market. These sensors are typically used in laptop computers and other low power consuming electronic devices for secure access. Technological advancements along with fall in prices are expected to position silicon-based fingerprint sensors firmly in the global fingerprint biometrics industry. The ongoing advancements, mostly directed towards miniaturization of sensors, have resulted in lowering production costs and expanding application of these sensors in a wider range of devices. Advanced swipe sensors, with considerably smaller form factor, are expected to be used increasingly in smaller and more power-hungry devices such as mobile phones and notebooks.

In Europe, Biometric technologies in the public sector, until now, have fairly survived the debt crisis largely as a result of most EU governments’ regional agenda to implement Biometric IDs for citizens ranging from biometric based passports to biometrics based national IDs. Driving interest in these national agendas is the ability of these programs to strengthen cross border security and control fraud. The said need is especially pronounced in Europe, given that the continent has one of the largest and most open trade platforms and as Europe turns its focus to international trade, biometrics is poised to play an instrumental role in trade facilitation by enhancing operational security and optimizing trade flows. Verification of a trading partner’s identity is therefore growing in popularity and importance, since trade patterns can be bolstered by eliminating cross border transport delays caused due to the inability to rapidly and comprehensively separate elements of legitimate commerce from possible threats. Adoption potential of biometric solutions therefore remains high in commercial shipping and international trade.

Also, as governments seek to reduce their fiscal loads, unwarranted expenditure incurred on illegal immigrants is coming under the scanner, and biometrics is emerging into a prime beneficiary in the given scenario, especially in Europe. The financial challenges currently being witnessed are in itself a factor driving adoption of biometrics, especially at the federal level. This is primarily because these solutions have the potential to help governments save billions of dollars by effectively thwarting monetary wastages, fraud, and abuse. Biometrics will remain a core component of the numerous measures being taken to make the financial sector more robust. On the flip side, consumer, residential, and enterprise biometrics, which are largely used for physical access control is however feeling the heat of the debt crisis. Weak commercial and residential construction industry is bringing down installations of biometrics based access control equipment in buildings and commercial spaces.

In the United States, the ongoing futile debt ceiling negotiations and the still hanging thereat of sequestration cuts is injecting uncertainty, especially in the military biometrics space where sequestration cuts can rip US defense budgets and bring in changes in defense budget priorities. Defense contractors providing biometric devices can likely be impacted by the imminent U.S. defense budget shrinkage as lawmakers struggle to reign in deficits and reduce spending, resulting in smaller size and lesser number of federal contracts. The US military currently uses fingerprint identification technologies to identify militants and maintains an extensive database of fingerprints of militant detainees with criminal records.

As stated by the new market research report on Fingerprint Biometrics, the US continues to remain the largest regional market accounting for a majority share in global sales. Asia-Pacific represents one of the fastest growing regional markets with sales in the region waxing at a CAGR of about 20% over the analysis period. Non-AFIS Fingerprint Biometrics represents the fastest growing product segment with sales waxing at a CAGR 16% over the analysis period.

The research report titled “Fingerprint Biometrics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global fingerprint biometrics market in US$ for all major geographic markets such as the US, Canada, Europe (France, Germany, UK and Rest of Europe), Asia-Pacific, Middle East, and Latin America.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.